Day: October 9, 2023

Jeremy Hogan Says Case Likely to Be Resolved by 2027

Per Hogan, considering where the case currently stands, only two outcomes are possible going forward. The ongoing SEC vs Ripple case has dragged on for quite a reasonable amount of time (approximately 3 years) now. With so much back and forth and no end in sight for the case, many concerned parties are beginning to raise concerns. The growing concerns are linked to the fact that the case, which was opened in December 2020, potentially holds immense influence on the crypto industry. That is especially true as it concerns the…

Bank of Israel to Sell $30 Billion Foreign Reserves amidst Shekel’s Slide

This is not the first time Israel’s central bank has intervened in the foreign exchange market to stabilize the shekel. The Bank of Israel has announced its intention to sell up to $30 billion in foreign reserves to support the Israeli shekel as it faces its weakest point in seven years. The decision comes in the wake of a sharp currency depreciation, reaching its weakest point in seven years, following a deadly incursion by Hamas militants over the weekend. The incursion by the Palestinian militant group Hamas, which occurred during…

Crypto Analyst Presents Data To Prove That XRP Is Deflationary

In the past, many have argued whether or not the XRP token was deflationary or not. In support of the former, pro-XRP crypto analyst Panos Mekras has provided data that suggests that the token has deflationary characteristics.  Number Of Tokens Burned So Far In a tweet shared on his X (formerly Twitter) platform, Mekras referenced another tweet showing that over 11 million tokens had been burned. This stat undoubtedly suggests that the token is deflationary since its total supply has decreased over time due to the burn mechanism. However, another…

The DOJ Has Come Out Swinging in the Sam Bankman-Fried Trial

Potentially as soon as later Tuesday, though, we’re going to hear from Caroline Ellison, the one-time Jane Street trader turned Alameda Research CEO. There’s two reasons why people want to hear from her: For one thing, she ran Alameda, the company that took FTX customer funds and somehow lost billions of dollars. For another, she is Bankman-Fried’s ex-girlfriend, the one he threw under the bus in the New York Times, and there is a fair bit of intrigue about what she’ll say from that perspective. Source

Bitcoin Is Better Than Digital Gold: Matrixport

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“Even today, storing assets in the form of gold has not only become unfashionable in the digital age, but comes with significant restrictions when crossing borders,” wrote Markus Thielen, head of research at Matrixport, adding that “bitcoin offers a solution to this dilemma, enabling the swift and relatively inconspicuous movement of value across borders.” Original

Ukraine rolls out AI regulation roadmap

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Ukraine’s Ministry of Digital Transformation presented its regulatory roadmap for artificial intelligence (AI) on Oct. 7. The roadmap was published on the ministry’s website and states that it aims to help local companies prepare for adopting a law analogous to the European Union’s AI Act. It also seeks to educate citizens on protecting themselves from AI risks. According to the roadmap’s announcement, it is based on a bottom-up approach that suggests moving from less to more, and it will provide businesses with tools to prepare for future requirements before adopting any…

Upbit exchange hacking attacks doubled in 2023

South Korea’s largest exchange, Upbit, suffered 159,061 attacks during the first half of 2023. According to the local media Yonhap, it is nearly 2.17 times more than in 2022. To fight back against the increasing trends of hacking attacks, the company increased the portion of funds it held in cold wallets by 70%. It also grew the security levels for its hot wallet funds. Upbit is currently one of the leading cryptocurrency exchanges in South Korea. The company has a trading volume of nearly $1.2 billion. Due to Binance regulatory…

Bitcoin Ready For Blast-Off, Metrics Signal A Bull Run: Top Analyst

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Bitcoin price analysts are pointing to a combination of high timeframe indicators that suggest the bear market for the leading cryptocurrency may be over, hinting at an impending upward surge. TechDev, a prominent crypto analyst known for insightful market analysis, recently shared a compelling perspective on social media platform X. Drawing parallels to historical trends, TechDev contends that Bitcoin is currently in a familiar position, reminiscent of the preludes to the 2016 and 2020 bull markets. Bitcoin Price Analysis: Volatility Contraction Signals Imminent Breakout To illustrate this perspective, TechDev presented…